November 26, 2003

News Release: Diagem International Resource Corp.: Recovery of a 10 Carat Gem Quality Diamond Caps Another Record Week as Weekly Diamond Production Surpasses 500 Carats

DIAGEM is pleased to announce that the combination of superior grade gravels (0.44 carats per cubic metre), larger average diamond size (0.43 of a carat) and improving production consistency produced a record 552.29 carats for week 12 of diamond production on the Fazenda Chicoria Diamondiferous Gravel Resource Block No.1, in the Juina Diamond Province, State of Mato Grosso, Brazil.

This record week surpassed the next best week by 30% and was capped by the recovery of a 10.36 carat gem quality diamond. The next noteworthy increases in production will result from the execution of the capital expenditure program, which is now funded. This will see older ancillary equipment upgraded and the capacity of the Sortex facility enhanced, thereby vastly improving efficiency and consistency of both exploration and production. Concurrently, selection and training of additional staff has started in order to be able to augment the current production with a second shift.

Detailed results for week 11 and 12

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                                             Number of     Number of
                    Vol.   Grade     Number     1 to 5       5 to 10
                  Gravel   (Cts/         of      carat         carat
          Carats  (Cu.m.)  cu.m.)  diamonds   diamonds      diamonds
--------------------------------------------------------------------
Week 11   351.68     953    0.37      1,030         53             2
                                                         (7.14, 5.52)
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Week 12   552.29   1,254    0.44      1,288        105           4(i)
                                                         (9.23, 6.68,
                                                          6.52, 5.30)
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(i) In addition, one diamond over 10 carats (10.36 carats) was
    recovered.

The technical content of this news release has been approved by Dr. Mousseau Tremblay, of Williamstown, Ontario, a Qualified Person, President, CEO and Director of Diagem International Resource Corp.

Diagem is a diamond exploration company holding significant diamond interests in Brazil and Canada. In Brazil it owns 20 properties totalling 130,000 hectares, in addition to the Joint Venture Property 1000, containing extensive diamondiferous gravels and 8 kimberlite pipes, located within the Juina Diamond Province, historically Brazil's largest diamond producing area. In Canada, through its interest in KWG Resources Inc. (TSXV: KWG), Diagem has an indirect interest in diamond exploration projects in the James Bay Lowlands and Wawa areas, in addition to the McFauld's Lake massive sulphide discovery, in Ontario.

For and on behalf of DIAGEM International Resource Corp.

Mousseau Tremblay, President &CEO

Diagem International Resource Corp.Connie FischerInvestor Relations(604) 542-2211 or Toll Free: 1-888-906-0444Email: This email address is being protected from spambots. You need JavaScript enabled to view it.: www.diagem.comorDiagem International Resource Corp.Mousseau TremblayPresident &CEO(604) 688-GEMS (4367)(604) 687-3912 (FAX)orDiagem International Resource Corp.Tony WoodCOO &CFO(604) 688-GEMS (4367)(604) 687-3912 (FAX)Email: This email address is being protected from spambots. You need JavaScript enabled to view it.: www.diagem.com

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